Drone Photography Business Plan SWOT – Economic Analysis

If you are planning to successfully launch a business and maximizing profits, then you need to ensure that you get your economic analysis right and try as much as possible to adopt best practices in the industry you choose to build a business in.

Drone photography is relatively new which is why the gadgets seem to be expensive. So if you are mapping out your economic analysis, you should carry out thorough market survey and costing of the required drone photography gadgets and other equipment needed to successfully run the business.

Over and above, if you are considering starting a drone photography company, then your concern should not be limited to the cost of setting up the business and securing publishing contracts but also on how to build a robust distribution network. The truth is that if you are able to build a robust distribution network, you are sure going to maximize profits in the business.

A Sample Aerial Drone Photography Business Plan SWOT Analysis

Our intention of starting our aerial drone photography business in Bay – Orleans, Massachusetts is to test run the business for a period of 3 to 6 months to know if we will invest more money, expand the business beyond Bay Orleans – Massachusetts to key cities in the United States and Canada.

We are quite aware that there are several aerial drone photographic businesses all over the United States and Canada and even in the same locations where we intend starting ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be well – equipped to confront our threats.

Wide – Spread Pictures® Aerial Drone Photography Company employed the services of an expert HR and Business Analyst with bias in start – ups to help us conduct a thorough SWOT analysis and to help us create a business model that will help us achieve our business goals and objectives.

This is the summary of the SWOT analysis that was conducted for Wide – Spread Pictures® Aerial Drone Photography Company;

Strength:

The strategic locations we intend covering, the business model we will be operating on, ease of payment, wide range of products and our excellent customer service culture will definitely count as a strong strength for Wide – Spread Pictures® Aerial Drone Photography Company. So also, we have a well – experienced and qualified team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details.

Weakness:

A major weakness that may count against us is the fact that we are a new aerial photography business and we don’t have the financial capacity to compete with multi – million dollars photography companies who are also into aerial photography business.

Opportunities:

The fact that we are launching out in Bay – Orleans, Massachusetts, provides us with unlimited opportunities to sell our products and services to a large number of corporate organization, research institute, and film makers who need the services of aerial drone photography companies.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they hire our services; we are well positioned to take on the opportunities that will come our way.

Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of an aerial photography company or a photography company in same location where ours is located. Unfavorable government policies can also pose a major threat to businesses such as ours.